BRAND NEW ONLINE PAYMENT PLATFORM ALLOWS SAVVY KSA SHOPPERS TO SHOP NOW, PAY LATER
[RIYADH, NOVEMBER 11, 2020] Keen online shoppers in the Kingdom are now able to make purchases, receive goods and pay for them later, thanks to innovative online payment experts, Spotii.
A new to the region concept, Spotii, launched earlier this year, is set to disrupt the way we buy and pay for items online, allowing interest free payments on a wide variety of items. Aligned with Saudi Arabia’s 2030 vision, Spotii is designed to accelerate the Kingdom’s e-commerce and digital payment ecosystem. Spotii provides consumers with the incremental purchasing power to build a retail sector that attracts modern, local, regional, and international brands as well as helping expand the role of e-commerce to 80 percent of the retail sector by 2030.
Launched by brother and sister duo Anuscha Iqbal and Ziyaad Ahmed, Spotii is designed around the goal of helping brands make their product offerings more attainable for Saudi Arabian consumers. The team is comprised of strong homegrown talent, based in Riyadh, Jeddah and Dubai, with extensive international experience in ecommerce and online payments, coming from blue chip organisations such as Amazon KSA, Google, Mashreq, Microsoft and Afterpay.
Spotii is rapidly making its mark as a trusted and inclusive way for customers to “Shop Now and Pay Later” over four equal instalments with no interest, no cost and no catches. Merchants receive payment upfront via Spotii, but consumers can spread the cost of a purchase over four equal instalments.
Meanwhile – especially given the tough economic climate this year – retail business owners are already seeing several tangible benefits, including full upfront payment for their sales, larger basket sizes, improved conversion rates and fewer refunds. Spotii’s proprietary Data Engine, combines with sophisticated Digital Marketing drives new customers to Merchants, providing an additive and highly lucrative acquisition channel. Spotii’s merchants have reported that over 40% of new customer volume have been driven to their websites by Spotii. The strong product pipeline promises to deliver other digitally native payment methods, beyond Shop Now Pay Later, to further grow the Kingdom’s retail industry.
Co-founder Ziyaad Ahmed says: “Spotii’s culture is built on creating a win/win flywheel, creating long-term relationships with both merchants and consumers. In a very simple, easy to use way, we believe Spotii helps empower customers to enjoy shopping more, without worrying about excessive costs or hidden fees. Business owners are provided a proven, dynamic conversion tool that enhances customer loyalty.”
Consumers can sign up for a Spotii account quickly and easily via the website – spotii.com or even at the time of purchase via a partner business website. Approval is instant. All you need to get going is a valid email address, along with your debit/credit card details and mobile number. Consumers only pay 25% today.
Merchants, meanwhile, can quickly bring a new era of payment to their online offering with a few simple clicks to sign up as a Spotii provider over at the website, here. Spotii then appears as a payment option when customers get to the checkout page, and they can then order and have goods delivered, enjoying hassle free equal instalments.